Santa Clara California Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Co. regarding establishment of trust

• Category: Corporations - Public - Agreements - Trusts
• State: Multi-State
• County: Santa Clara
• Control #: US-EG-9323
• Format: Word; Rich Text

Description

Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Company regarding the establishment of a trust to hold and invest Plan assets under the Plan for the exclusive benefit of participants The Santa Clara California Polaris 401(k) Retirement Savings Plan Trust Agreement is a legally binding document that establishes a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. This agreement sets forth the terms and conditions for managing and administering the 401(k) retirement savings plan offered by Polaris Industries, Inc. to its employees. Key provisions of the Santa Clara California Polaris 401(k) Retirement Savings Plan Trust Agreement include: 1. Establishment of Trust: The agreement details the establishment of a trust fund, which will hold the assets of the 401(k) plan. The trust is established to ensure the segregated management and protection of the plan assets for the exclusive benefit of the plan participants. 2. Trustee Responsibilities: Fidelity Management Trust Co. is appointed as the trustee and is responsible for the overall administration of the trust, including investment management, record-keeping, and compliance with applicable laws and regulations. 3. Investment Options: The agreement outlines the investment options available to plan participants, such as mutual funds, stocks, bonds, and other approved investment vehicles. It specifies the criteria for selecting and monitoring these investment options to ensure they align with the plan's objectives and meet fiduciary standards. 4. Contributions and Vesting: The agreement specifies the rules governing employee contributions, employer matching contributions, and vesting schedules. It outlines the procedures for making contributions, handling rollovers, and determining the vesting rights of plan participants. 5. Distributions and Withdrawals: The agreement provides guidelines for the distribution of plan benefits upon retirement, termination of employment, disability, or death. It outlines the various distribution options available to participants, such as lump-sum payments, rollovers, or annuities, and explains any tax implications associated with these distributions. 6. Plan Amendments and Termination: The agreement addresses the process and requirements for amending the trust agreement, including any necessary approvals and notifications. It also provides provisions for the termination of the plan and the distribution of remaining assets in the event of plan termination. 7. Fiduciary Duties and Liabilities: The agreement outlines the fiduciary responsibilities of the trustee and other plan fiduciaries, emphasizing their duty to act prudently and solely in the best interests of the plan participants and beneficiaries. It also includes clauses to limit the trustee's liability, subject to applicable laws and regulations. Different types of Santa Clara California Polaris 401(k) Retirement Savings Plan Trust Agreements between Polaris Industries, Inc. and Fidelity Management Trust Co. regarding the establishment of trust may include specific variations based on the needs and requirements of different groups of employees. These variations may account for factors such as employee classification, union affiliations, or specific retirement plan provisions requested by Polaris Industries, Inc. or agreed upon between the parties involved.

The Santa Clara California Polaris 401(k) Retirement Savings Plan Trust Agreement is a legally binding document that establishes a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. This agreement sets forth the terms and conditions for managing and administering the 401(k) retirement savings plan offered by Polaris Industries, Inc. to its employees. Key provisions of the Santa Clara California Polaris 401(k) Retirement Savings Plan Trust Agreement include: 1. Establishment of Trust: The agreement details the establishment of a trust fund, which will hold the assets of the 401(k) plan. The trust is established to ensure the segregated management and protection of the plan assets for the exclusive benefit of the plan participants. 2. Trustee Responsibilities: Fidelity Management Trust Co. is appointed as the trustee and is responsible for the overall administration of the trust, including investment management, record-keeping, and compliance with applicable laws and regulations. 3. Investment Options: The agreement outlines the investment options available to plan participants, such as mutual funds, stocks, bonds, and other approved investment vehicles. It specifies the criteria for selecting and monitoring these investment options to ensure they align with the plan's objectives and meet fiduciary standards. 4. Contributions and Vesting: The agreement specifies the rules governing employee contributions, employer matching contributions, and vesting schedules. It outlines the procedures for making contributions, handling rollovers, and determining the vesting rights of plan participants. 5. Distributions and Withdrawals: The agreement provides guidelines for the distribution of plan benefits upon retirement, termination of employment, disability, or death. It outlines the various distribution options available to participants, such as lump-sum payments, rollovers, or annuities, and explains any tax implications associated with these distributions. 6. Plan Amendments and Termination: The agreement addresses the process and requirements for amending the trust agreement, including any necessary approvals and notifications. It also provides provisions for the termination of the plan and the distribution of remaining assets in the event of plan termination. 7. Fiduciary Duties and Liabilities: The agreement outlines the fiduciary responsibilities of the trustee and other plan fiduciaries, emphasizing their duty to act prudently and solely in the best interests of the plan participants and beneficiaries. It also includes clauses to limit the trustee's liability, subject to applicable laws and regulations. Different types of Santa Clara California Polaris 401(k) Retirement Savings Plan Trust Agreements between Polaris Industries, Inc. and Fidelity Management Trust Co. regarding the establishment of trust may include specific variations based on the needs and requirements of different groups of employees. These variations may account for factors such as employee classification, union affiliations, or specific retirement plan provisions requested by Polaris Industries, Inc. or agreed upon between the parties involved.